The share price is not undervalued. It is overvalued since the price went up due to fake, worthless contracts and overrated Eliasch. TMPS buying pressure went up only because Eliasch is technically a billionaire. The fact that Eliasch had no accomplishments was not out in the open back then.
99% of penny stocks are pump and dumps, yet 100% of penny stocks pretend to be in the 1%. Contracts, patents, mergers, partnerships, and other such news are usually "too good to be true" and should be looked at in detail. The source should also be vetted.